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Subscription of two blocks of 1 million euros each under the February 2015 contract for convertible notes with attached warrants

Delta Drone announces YA GLOBAL MASTER SPV Ltd’s exercise on 3 June 2016, at its own initiative, of the sixth and seventh warrants (BEOCABSA) for convertible notes (OCA) with warrants attached (BSA) (OCA and BSA together are the OCABSA), resulting in the subscription, on 3 June 2016, by YA GLOBAL MASTER SPV Ltd of the sixth and seventh blocks of OCABSA, corresponding to the issuing of 200 OCA with a face value of 10,000 euros each, representing a bond issue of 2,000,000 euros with 1,436,781 BSA having an exercise price of 1.392 euros.

The theoretical future impact of the conversion of all of the OCA and the exercise of all of the BSA resulting from the sixth and seventh blocks of OCABSA on the consolidated net assets per share and the shareholders’ position is shown in the charts below:

• Impact of the issue on the net assets per share

Consolidated net assets per share *:

a) Before the issue of a maximum of 3,135,581 new shares resulting from (i) the conversion of the 200 OCA and (ii) the exercise of the 1,436,781 BSA :  €0.37

b) After the issue of a maximum of 3,135,581 new shares resulting from (i) the conversion of the 200 OCA and (ii) the exercise of the 1,436,781 BSA :         €0.48

*These calculations have been made based on the lowest of the Volume Weighted Average Price observed for the five trading days prior to 3 June 2016 (i.e., €1.2659), on the basis of the current number of shares and Delta Drone’s consolidated net assets as at 31 December 2015 (i.e., €8.232k)

• Impact of the issue on the shareholders’ position

Shareholder stake*:

a) Before the issue of a maximum of 3,135,581 new shares resulting from (i) the conversion of the 200 OCA and (ii) the exercise of the 1,436,781 BSA :     1.00%

b) After the issue of a maximum of 3,135,581 new shares resulting from (i) the conversion of the 200 OCA and (ii) the exercise of the 1,436,781 BSA :            0.88%

* These calculations have been made based on the lowest of the Volume Weighted Average Price observed for the five trading days prior to 3 June 2016 (i.e., €1.2659) and on the basis of the current number of shares

This transaction falls under the framework of the contract for the issue of the OCABSA entered into between DELTA DRONE and YA GLOBAL MASTER SPV Ltd in February 2015(i) and approved by the ordinary and extraordinary general shareholders’ meeting of 21 May 2015(ii). On the same day, the Board of Directors decided to issue the 10 BEOCABSA corresponding to the 10 blocks of OCABSA provided for under the contract.

The characteristics of the OCABSA and the ongoing monitoring of the creation of the new shares resulting from the OCA conversions or the exercise of the BSA for each block of OCABSA will be the subject of a tab that will be updated systematically on the DELTA DRONE website (www.deltadrone.com).

Concerning this contribution of two million euros in new financial resources, Christian Viguié, Chairman and CEO of the Group, said, “the exercise by YA GLOBAL MASTER SPV Ltd of two blocks of OCABSA is part of the normal process resulting from the contract signed in February 2015 and approved by the extraordinary shareholders’ meeting on 21 May 2015. The transaction allows us to increase our available cash, which, as at 31 May 2016, amounted to €6M. Post-transaction, it will amount to €8M

About Delta Drone: The Delta Drone Group is a renowned player in the field of civilian drones for professional use. It offers a complete service, from data acquisition to data processing through a specifically developed information system, including a supply of professional pilots. These pilots are trained and certified by the Ecole Française du Drone, a subsidiary of the Group.

Delta Drone is listed on the Alternext market of Euronext Paris. ISIN code: FR0011522168.
www.deltadrone.com

Contacts : Jérôme Gacoin

01 75 77 54 65

Download the June 6, 2016 press release

i Cf. press release of 24 March 2015

ii Cf. press release of 21 May 2015

 

 

 

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